Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
 
 
From the Courts »
 Nishant Construction Pvt. Ltd vs. ACIT (ITAT Ahmedabad)
 Flipkart India Private Limited vs. ACIT (Karnataka High Court)
 JSW Steel Ltd vs. ACIT (ITAT Mumbai)
  CIT vs. Uday M. Ghare (Bombay High Court)
 Ajay Enterprises Pvt. Ltd. Vs. Assistant Commissioner Of Income Tax (Tds) And Ors.
 Rakesh Raj And Associates Vs. Commissioner Of Income Tax, Central-Ii & Anr.
 Venu Charitable Society And Anr. Vs. Director General Of Income Tax
 Wadhwa Estate & Developers India Pvt. Ltd vs. ACIT (ITAT Mumbai)
 CIT vs. Uday M. Ghare (Bombay High Court)
  Ajay Enterprises Pvt. Ltd. Vs. Assistant Commissioner Of Income Tax (Tds) And Ors.
 Anita D Kanjani vs. ACIT (ITAT Mumbai)

T A Associates Advisory Pvt.Ltd.,13th floor, Birla Aurora,Dr Annie Besent Road,Worli,Mumbai-400030 Vs. T A Associates Advisory Pvt.Ltd.,13th floor, Birla Aurora, Dr Annie Besent Road,Worli,Mumbai-400030
November, 16th 2015
                  ,   "                         " 
     IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI

     BEFORE HON'BLE S/SHRI G S PANNU (AM), AND SAKTIJIT DEY (JM)

                    Stay Application No.287/Mum/2015
                arising out of I.T.A. No.496/Mum/2015
              (   / Assessment Year : 2010-11)

 T A Associates Advisory Pvt.Ltd.,   /        Dy. Commissioner of Income Tax,
 13th floor, Birla Aurora,           Vs.      Cir. 3(3),
 Dr Annie Besent Road,                        Mumbai.
 Worli,
 Mumbai-400030
        ( /Appellant)                ..       ( / Respondent)

                ./   ./ PAN: AADCT0884H



            / Applicant by                :   Shri Divesh Chawla
            /Respondent by :                  Dr.Pramod Nikalje


            / Date of Hearing                    : 13.11.2015
            /Date of Pronouncement : 13.11.2015


                                  / O R D E R


Per SAKTIJIT DEY (JM):


       In this application, the assessee seeks stay of recovery of
outstanding demand of Rs.47,14,680/- till the disposal of its appeal
pending before the Tribunal.




2.     The ld. Counsel appearing for the assessee submitted before us, the
issue in dispute in     the appeal filed by the assessee is restricted to
selection of one comparable          viz; Motilal Oswal Investment Advisory
Private Limited. He submitted, the issue relating to comparability of the
above said company is more or less settled in favour of the assessee, as in
a number of cases, the Tribunal has held that Motilal Oswal Investment
                                        2                        SA No.287/M/2015




Advisory Private Limited being in the business of investment banking
cannot be treated as a comparable to a company engaged in investment
advisory services. However, the ld. Counsel submitted, at this stage, the
assessee is only seeking early hearing of its appeal pending before the
Tribunal. At the same time, ld. Counsel submitted, assessee is keeping
its option open for seeking stay of outstanding demand in future, if need
be.

3.    The ld. DR though opposed grant of stay to the assessee; however,
he has no objection if assessee's appeal is heard out of turn.



4.    We have heard the parties and perused the material on record.
Before us, the only prayer of the assessee is to grant early hearing of the
corresponding appeal of the assessee. Considering the fact that the issue
in dispute is restricted to selection of one comparable viz Motilal Oswal
Investment Advisory Private Limited, we accede to assessee's request for
early hearing of its appeal. We, therefore, direct the Registry to fix the
corresponding appeal of the assessee being ITA No.496/Mum/2015 on
18.1.2016. Both parties are directed to file paper books, if any, sufficiently
ahead. We make it clear that the assessee should not take any
adjournment on the date fixed for hearing of appeal, lest it may run the
risk of losing its right of early hearing of appeal.





5.    In the result, the stay application is partly allowed.


      The above order was pronounced in the open court on 13th Nov, 2015.

            13 Nov, 2015    
              th


       Sd                                                      sd
  ( G S PANNU)                                           (SAKTIJIT DEY)
ACCOUNTANT MEMBER                                      JUDICIAL MEMBER
                              3                 SA No.287/M/2015




 Mumbai: 13TH Nov, 2015.

.../ SRL , Sr. PS

    /Copy of the Order forwarded to :
1.  / The Appellant
2.       / The Respondent.
3.       () / The CIT(A)- concerned
4.        / CIT concerned
5.       ,   ,                      /
        DR, ITAT, Mumbai concerned
6.        / Guard file.


                                              / BY ORDER,

     True copy                            (Asstt. Registrar)
                                    ,   /ITAT, Mumbai

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions